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, requires some reforms to be strengthened. we are in big disagreement as to how to do it. >> that is an understatement. democrat favor tax hike within social security and medicare as well as increasing income taxes. budget committee chairman paul ryan argues part of the problem in medicare is the new healthcare law. which claims savings will materialize, and the chief actuary of medicare has the same concerns. >> there is a lot of evidence to suggest some of the payment provisions will not be sustainablsustainable in the lo. >> it pays providers including doctors lower and lower rates. foster says over time it will leave 40% of all providers in the red raising questions about whether they'll treat medicare patients. >> if at some point our payment rate to providers become less or significantly less to the cost of providing services, they either will be unwilling, or unable to continue providing services. >> last year, 51% of medicare's cost was taken out of the general revenue; meaning, half the cost of medicare was paid by borrowing money. which is why it's part of the d
. >> the largest possible deal. >>chris: the president wants to go big so why are the numbers going down? welcome, everyone, i am here for neil cavuto in "your world." a new round of debt talks get under way at the white house but it is not all smiles. because the president's listen is not looking so grand. we have gone from talk of $2 trillion in cuts to $1.7 trillion and now closer to $1.5 trillion. and there is in guarantee that money won't go lower as the talks drag on. utah republican senator lee thinks we need to go back but $1.5 trillion in cuts spread out over ten years is that going big? >>guest: no, in the big at all. i am not sure it is going anywhere. one congress cannot bind another congress. so no matter how big the cuts are, if they are stretched out over 10 years and not accompanied by a constitutional amendment we have no guarantee they will be followed. >>chris: do you get a sense both sides are trying to get a deal and making it small enough to be palatable because the democrats and the administration will not make a big deal without tax increases, so both will take small incre
's big three credit rating agencies, warned it might have to lower the country's top notch credit rating if lawmakers don't come it an agreement soon on raising the debt ceiling. this a starnlgts moodeddy's said its action was prompted by the possibility that the debt limit will not be raised in time to prevent a missed payment on u.s. bonds with a small but rising risk of a short-lived default. economists say if the aaa rating is lowered, it would throw the financial markets in to chaos and the cost of were rowing would go up for everything from mortgages to car loans. federal reserve chairman ben bernanke warned -- >> i think the worst outcome is that at some point, you know, we default on the debt and that would creates a i said before a huge financial calamity. >> reporter: sources say the president knew about the moody's warning as he headeded in to wednesday's meet which go all sides have described as very tense. republican majority leader eric cantor quoted the president as saying, i have reached the point where i say enough. would ronald reagan be sitting here? i've reached my li
street is worried about washington. late wednesday moody's one of the big three credit rating agencies warning it might have to lower the rating if lawmakers don't come to an agreement on raising the debt ceiling. in the statement it said the action was prompted by the possibility that the debt limit woil not be raised in time to prevent a missed payment on u.s. bonds with a small but rising risk of ashort-lived default. economists say if the aaa rating is lowered it will throw the financial markets into chaos and the cost of borrowing would go up to everything from morlts to car loans. ben bernanke warned. >> i think the worst outcome if we don't raise the limit, at some point we default on debt and that would create as i said before, a huge financial calamity. >> reporter: sources say the president knew about the moody's warning as he headed into wednesday meeting which all sides describe as tense. republican majority leader eric cantor cited the president as saying i have reached my limit. he left saying i'll see you tomorrow. the two sides couldn't even agree about what happened in
something big done. the president has made it clear he wants to do something substantial. >> sean: that was budget director lew talking about the debt negotiations. he says the president wants to do something substantial. we found out how hollow that pledge is. the administration announced if the republicans cut cap and balance pledge were to pass the house and senate, president crybaby would veto this the plan gaining momentum tackles america's fiscal crisis making mandatory spending reductions that would reduce the deficit, cap spending at 18% of the gdp and send to the states a balanced budget amendment to the u.s. constitution. those measures would prevent this president from pursuing his reckless tax and spend agenda, which explains why he's opposed to it. joining me with his take south carolina senator lindsey graham. how are you? >> good, thanks for having me. >> sean: it is simple to me. this is the moment of truth. they election in 2010, the biggest mid term in 70 years. i'll quote president obama, we won, conservatives won. cut, cap and balance, do you support it? >> tot
, this backup plan could be left as the last option standing. but the big question is always, wolf, will it pass the house? can it pass the house? and this seems to be another example of just how divided the republican party is on this issue. >> yeah, it's a huge, huge division right now. going forward, this debate, we'll see what happens. kate, thanks very much. let's check in with jack right now. he's got the "cafferty file." >> despite that nasty game of chicken going on in washington over raising the debt ceiling. congressional leaders in both parties pretty much agree that doing it is going to be necessary. the argument is over what else goes into the bill that's tying them up and bringing the country dangerously close to defaulting on some of our loans. according to a new poll, 40% do not want the debt ceiling raised and they want their members of congress to vote against any measures that raise it. only 22% want their lawmakers to vote for raising the debt ceiling. and more than 1/3 of americans say they're just not sure. when asked which is a greater concern, 51% say raising the debt cei
out the president has a big birthday bash scheduled for august 3rd, celebrities flying in from all over. and lo and behold, august 2nd is the deadline for getting something done so that he can have this massive -- maybe the biggest fundraising dinner in history for a birthday celebration. >> and here's iowa congressman steve king. >> it's not default. they've been calling it default to try to stampede people into taking a bad deal here in this congress. the american people understand this. they understand at least intuitively that it would be the president who would willfully default if there's to be a default. i'd like to think the investor markets understand that, too. >> keeping them honest, there's little reason to think that's true. and plenty of people in the gop establishment and the business community sending up warning flairs. officials at the bond rating company standard & poors today briefing freshman republicans about what might happen. political reporting tonight they were cautioned that one possibility is "a death spiral in the bond market". s & p is already on record
is the big bad government is a threat to us. the consumer protection bureau as most americans understand is the government protecting them from abuse by private financial institutions. and they are terrified that the public will see that there is value to a public institution that can prevent them from being abused by private institutions because it undercuts the whole rationale that the government is always bad, always a problem. and that's why we are fighting so hard for it. >> congressman barney frank, democrat of massachusetts, ranking democrat on the financial committee. thank you for your time tonight. >>> texas governor, and gonna run for president guy, rick perry made a very surprising decision today that is going to upset some of his most ardent supporters. i'll tell you about it with a smile when i come back. k of pos. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of
. no we won't. we have money to pay it, pay it take that issue off the take. here's the big issue, the president doesn't want to have to be confronted with priorities in spending. because he has a lot of chutzpah. he spent a trillion on stimulus, it failed. he spent a trillion and a half every year on deficits, they are his. also obamacare trillions of dollars this is his spending. he's gotta own it and deal with it. >> greta: i think the president genuinely wants to make sure people don't get hurt. >> we all do. we all do. >> greta: i don't think he's necessarily playing politics some would say he worries if we take some money out of this program it is going to hurt somebody, they all have costs every time we take has costs. >> my point was, this president has added trillions of dollars. we wouldn't be in this crisis right now if he wouldn't have spent that trillion on stimulus, trillion and a half more than he should have on the budget and trillions more on obamacare. but for those trillions in spending, we wouldn't be in this mess. we would still be in a bad spot, nowhere near
right into the water looking for one of those lionfish. one of those tentacles hits you, you are in big trouble. it is full of poison, but everybody says they taste pretty good. >> taste like chicken. who knows? >> default for everything. speaking of default, let's go to capitol hill right now where members of congress are starting to hear from all of you after those dueling speeches from president obama and the house speaker on monday night, the switchboards on capitol hill were besieged, overwhelmed yesterday. thousands of phone calls and e-mails coming in almost all of them saying, robin, just get this done. >> so only five days left on the clock, george as you know, that important vote delayed by the house speaker as we get closer to potential financial chaos. abc's jonathan karl is on capitol hill. he has been tracking all the latest for us overnight. good morning, jon. >> reporter: good morning, robin. we are reaching crisis time here on capitol hill. the republicans delayed a vote on their bill in the house because they don't even have enough republican votes to pass their own bi
will come in the end and soon. >> president obama obviously inherited by common consent a big hospital pass in terms of the state of the economy, not just in america but around the world, very very tough to pull out of any kind of rapid way. having said that, as we head towards another election year, there will be critics and you will have heard them, that say you can't keep blaming the republicans for what you inherited. president obama, under his administration, the jobless figures are still terrible, 9.2% of americans are out of work. do you feel disappointed that there's been no greater inroad into those jobless figures? >> i feel very disappointed there hasn't been more inroad into those jobless figures. i feel disappointed frankly there hasn't been more bipartisan bipartisan cooperation on solutions. here in massachusetts, we have like states across the country faced huge unprecedented budget gaps, taking that same balanced approach with cuts and use of stimulus reserves and modest tax increases and change in the way a lot of our state government does business, we have closed a $14 bi
in history in terms of what we do with cut, cap and balance. we had a big disagreement last week over the mcconnell plan. today the president races out to your old podium. there's a new plan, hang on, six guys in a room. it is very frustrating to me that republicans are negotiating against themselves. they ought to be united supporting cut, cap and balance that is the best answer to the structural foundational problem fast we have in the economy. >> you are right in principle. cut, cap and balance does what you want it to do. but, it is not going to be a success. it is not going to go through. >> sean: why tkpwerb shea against yourself? >> i want a viable alternative to a downgrade of america's financial reputation. >> sean: moody's is saying it going to downgrade any way. s&p saying within maybe 90 days. >> cap -- >> cut, cap and balance doesn't go as far as the ryan budget went. the ryan budget was voted on unanimously by the house republicans. i do think that this debate is a good one to have. what i don't see is the 2012 candidates coming forward on the republican side and saying, taking
said is why he called the president saturday and ended their talks on the so-called big deal to cut the debt by $4 trillion over a decade, which he said the two men had been discussing since january. a republican source close to the negotiations says despite the smiles, the meeting is on a smaller deal are producing little progress at this point. speaker boehner was asked what happens if there is no deal and the nation defaults on august 2, he said nobody knows, it's a crap shoot. >> thank you very much. senior business correspondent anthony mason is here now. let's go back to the news from moody's. what exactly does that mean? >> moody threatened to do this last month. today the rating agency cited its concerns that the debt limit will not be raised on a timely basis, leading to a default on a u.s. treasury obligation. moody's words, the risk of a short-lived default was small but rising. standard and poors put u.s. credit on negative outlook back in april citing the same concerns. this is basically another warning shot, russ, telling congress they're running out of time. >> how so
. however there is disagreement over that point, big disagreement over that point. >> the other thing we'll be looking at is of course whether or not there will be issue with the credit rating. we'll talk about that. rebecca thanks. chris? >> thank you. >>> there is news of another arrest in the widening phone hacking scandal in britain. rupert murdoch is being pressured to appear before lawmakers in london and washington. dana lewis is in london good morning. >> reporter: good morning, we're hearing a ninth person has been arrested in the phone hacking scandal, the former executive editor of the "news of the world," but the late breaking news here this morning is the british government committee has just issued a summons for rupert and james murdoch to appear before them to answer questions about what they knew in the phone hacking scandal but legally there is a serious question over whether they can be compelled to appear. damage control in high gear rupert murdoch and son james in london trying to find a way to put out the fire. news corp shut out "nut of the
>>> welcome back. i'montessa brewer back in the saddle covering the big news coast to coast. we begin with breaking news. the judge in the roger clemens perjury trial has just declared a mistrial. nbc's pete williams is in washington, d.c. what's the judge saying about this trial, pete? >> reporter: well, the judge has said he'll decide at a hearing on september 2nd, almost two months from now, where we go from here. this trial had just started yesterday with opening statements from both sides and the prosecutors had begun calling witnesses, but the judge had told the prosecutors in advance that certain evidence was off-limits and one of the things that was off-limits was related to testimony by a friend and former teammate of roger clemens named andy pettitte who had played with him on two major league teams. andy pettitte has said that roger clemens told him he used human growth hormone. clemens says that pettitte is mistaken. what's at issue here is a legal document, sort of sworn statement by the wife of andy pettitte, who says yeah, i heard my husband tell me that roger tol
or will this cause some bigger conversation? that's a big question. >> and earlier in the week, anderson, we were talking about whether the white house might possibly agree to some kind of a short-term patch of two to three days in order to get the negotiations really moving again. and i think, you know, as the clock ticks i think we have to look back to that scenario and wonder whether that's a possibility again. >> remember all that grand bargain big talk? doesn't that seem like 20 years ago? was that like two weeks ago? >> yeah. although if you talk to some democrats and jessica's been reporting that the white house is still talking about some kind of a grand bargain, right? so it seems like a long time ago. but funny how these things work, right? >> john, gloria thank you. i want to bring in two other perspectives now. on the left democratic strategyist cornell -- and former senate candidate mccain advisor and former hue let pack yard ceo, carly fiorina. carly, just in terms of the politics of, this how do you think republicans are looking at this in terms of the political who's going to get
to get members to support. the big flaw in that plan he was on radio explaining it today. this select committee. who are the people? when are the cuts coming where are the cuts going to be? that was the flaw. all that aside. he's got another plan. the president has no plan. >> i was stunned they allowed the president to go to the east room by himself and give a partisan speech with no plan in place and calling on members of the public to call the members of congress. i heard today that calls were up but they weren't what the president wanted. it is saying don't cave. surprisingly the poll you just read 38% of the people who still think he's handling this well? that you don't have a plan that you can explain it. and ed henry now with fox news as a white house correspondent pressed today, pressed jay carney on why don't you have a plan? i can imagine how you explain why you don't. >> sean: we'll get into this in the next segment. it angers me now. that republicans are competing only with their own deal. the president gets to throw darts and say no, no, no. where is his leadership stuart
of the big issues that the white house has had with the house republican plan and what's really been seen as an area that needed to be negotiated and really could be the thing that could lead to a break-through on a deal is this idea of if you're going to have a two-part increase in the debt ceiling that would take the debt ceiling through the next election, november 2012, it was really how you tied that second increase in the debt ceiling after several months. the white house senate democrats didn't like the way that the house republicans were doing it. they felt it would have led to some chaotic situation like we have seen with all of this back and forth over the debt increase and they would have seen it again around the new year and they didn't want to do it again. they are looking at that sort of seam, if you will, in the context of the framework to maybe work it out in a way that is more amendable to the white house and democrats. >> brianna keilar for us at the white house. cnn is dedicated to providing you up to the minute coverage of the debt crisis and tomorrow night, we will bri
Search Results 0 to 30 of about 31 (some duplicates have been removed)